Speaking at the recent House of Lords hybrid parliamentary sessions Lord Raj Loomba CBE raised concerns over fair accessibility and affordability of vaccines for Covid-19 for low and middle income countries.
Citing Professor Robin Shattock of Imperial College that a vaccine was unlikely to be available to masses before the middle of next year, Lord Loomba wanted to know if the Government has any policy or safeguards in place to stop profiteering from the discovery, and to stop more prosperous countries hoarding the vaccine thereby preventing less-developed countries gaining access to it.
Lord Loomba also spoke during the passage of the stamp duty land tax Bill containing legislation to adjust stamp duty obligations until March 2021. Lord Loomba welcomed the reduction in stamp duty saying, ' This is a welcome move by the Chancellor to reduce the amount of stamp duty payable on property sales in the UK as it will help the economy. As the country gets back on its feet it will help people as they assess their situation and make decisions about moving or buying a home.' He was, however, concerned that the Bill is lacking in specific help for first-time buyers. He asked whether the Government will look more closely at what can be done for first-time buyers so that they are not priced out of the market and deprived of buying their first house. He added, 'They need incentives, as this Bill could well encourage second home ownership, to the detriment of young people.'
